Friday, April 12, 2024

Pixie: The First Decentralized Social Network Powered By Blockchain Technology

Pixie, unlike fellow social media platforms, is the world’s first decentralized photo and video sharing network based on blockchain crypto economies. It encourages users to create quality content and interact with fellow users.

According to analysts, Pixie constructs a ‘Creator Cryptoeconomy’ model which is quite different from the centralized revenue models of other social network platforms that monetize users’ data and breach their privacy. Pixie works with its users to build and develop a decentralized social network where users can share and manage profits together. Basically, the decentralized platform believes that higher-quality content can promote more social activities such as comments, likes, traffic data and reposts, and feeds. The Pixie team says higher-quality content receiving more social activity should earn the native token PIX. If a post receives a good number of likes and reposts, users who liked or reposted it would receive more PIX than a repost with a very small number of likes and reposts.

The platform intends to reward its users for quality digital content. It believes the greater the weight, the more PIX the users will be getting for each social activity. This means the users will have more rights and interests in the application than any other social media platform. Moreover, to discourage abusive social activities such as hateful or discriminatory likings and postings, Pixie is looking at Energy management. Social activity in Pixie consumes ‘energy’ and if the energy has been all used up, users cannot participate in more social activities until the ‘energy’ is replenished automatically.

Furthermore, Pixie also uses NFTs for video, photo, digital artwork, and music. This is part of the platform’s efforts to protect its user-generated content and their ownership rights. As such, it has introduced an innovative concept of NFT. Pixie has designed an innovative application for it. All in all, Pixie is a new-age social media platform using new-age technology.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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